1993 — LDDS acquires long-distance providers Resurgens Communications Group and Metromedia Communications in a three-way stock and cash transaction that creates the fourth-largest long-distance network in the United States.

1994 — LDDS acquires domestic and international communications network IDB Communications Group in an all-stock deal.

1995 — LDDS acquires voice and data transmission company Williams Telecommunications Group (WilTel) for $2.5 billion cash and changes its name to WorldCom.

1996 — WorldCom merges with MFS Communications Company (MFS), which owned local network access facilities via digital fiber optic cable networks in and around major U.S. and European cities, and UUNet Technologies, an Internet access provider for businesses.

1998 — WorldCom completes three mergers: with MCI Communications ($40 billion) — the largest in history at that time — Brooks Fiber Properties ($1.2 billion) and CompuServe ($1.3 billion).

1999 — WorldCom and Sprint agree to merge. WorldCom shares peak at more than $64.

2000 — U.S. and European regulators block the proposed merger with Sprint; WorldCom and Sprint terminate their merger agreement.

2001 — WorldCom merges with Intermedia Communications, a provider of data and Internet services to businesses.

2002

March 11 — WorldCom receives a request for information from the U.S. Securities and Exchange Commission relating to accounting procedures and loans to officers.

April 3 — WorldCom says it is cutting 3,700 jobs in the U.S. or 6% of WorldCom group's staff, 4% of WorldCom's overall work force.

May 15 — WorldCom says it would draw down a $2.65 billion bank credit line as it negotiates for a new $5 billion funding pact with its lenders.

May 21 — WorldCom says it will scrap dividend payments and eliminate its two tracking stocks, one that reflects its main Internet and data business and a second that reflects its residential long-distance telephone business.

June 5 — WorldCom says it will exit the wireless resale business and will cut jobs to reduce expenses and pare massive debts.

June 25 — WorldCom fires its chief financial officer after uncovering improper accounting of $3.8 billion in expenses over five quarters starting in 2001. The company also says it will cut 17,000 jobs, or 20% of its work force.

June 26 — SEC files civil fraud charges against WorldCom and seeks an order to prevent the company from disposing of assets, destroying documents and making extraordinary payments to senior officers. The U.S. Justice Department says it is probing the matter.

Nasdaq market halts trading in its two tracking stocks, WorldCom Group and MCI Group. Shares of WorldCom fall as low as 9 cents before the halt.

June 27 — The U.S. House Financial Services Committee subpoenas top current and former WorldCom executives, Ebbers, Sidgmore and Sullivan, as well as Salomon Smith Barney analyst Jack Grubman to testify on July 8. The House Energy and Commerce Committee requests documents for its own probe.

July 1 — WorldCom says in a sworn statement to the SEC that its audit committee is reviewing its financial records for 1999 through 2001 regarding "certain material reversals of reserve accounts." The company receives notice from some of its lenders saying they could demand immediate repayment for defaulted loans. The company's shares are resumed on the Nasdaq, opening at about 8 cents. The Bush administration says it is reviewing existing government contracts with WorldCom and could deny the company new business.

July 2 — Sidgmore holds news conference, apologizing for the scandal and says WorldCom is working on funding proposals with its lenders to stave off bankruptcy. New York State comptroller files suit for losses in its pension funds.

July 3 — U.S. District Judge Jed Rakoff appoints former SEC Chairman Richard Breeden to prevent possible shredding of key documents and unwarranted payouts to top officers. Rakoff sets March 31 for WorldCom to go on trial for alleged fraud.

July 8 — Former WorldCom CEO Ebbers tells the U.S. House Financial Services Committee he did nothing wrong and refuses to answer questions. Ex-CFO Sullivan also refuses to testify. Salomon Smith Barney analyst Jack Grubman says he attended WorldCom board meetings but denied having inside information about the woes. Sidgmore blames Andersen and says turnaround plans are coming together, some of which include bankruptcy.

WorldCom says in a revised statement filed with SEC that Sullivan tried to delay an internal audit that discovered the transfers of expenses to capital spending accounts.

July 9 — Sidgmore says the company expects to decide within three weeks whether to pursue bankruptcy or some other financial reorganization and is seeking $3 billion in funding, less than the previously sought $5 billion.

July 10 — U.S. attorney in Mississippi is removed from investigation of WorldCom because of a conflict of interest and case is taken over by New York's U.S. attorney's office.

July 11 — WorldCom says it will not pay the $71 million second quarter dividend to shareholders of its MCI Group long-distance tracking stock.

July 12 — SEC wins a stay blocking WorldCom plans to convert MCI Group tracking stock into WorldCom stock for 10 business days while the agency reviews the conversion.

July 15 — Rep. Billy Tauzin says Congress interviews of witnesses indicate WorldCom's accounting errors may go back to 1999 and says company e-mails show efforts in March 2001 of top executives trying to manipulate earnings to meet Wall Street expectations. He also says company memos show executives had discussions in 2000 about accounting for expenses over a longer period of time than allowed.

July 16 — WorldCom lines up $2 billion in financing to keep operating if lenders force the company into bankruptcy protection, sources say. A lawsuit by 25 banks trying to limit WorldCom's use of $2.5 billion in loans was moved to federal court from state court. Three California pension funds sue WorldCom for allegedly misleading them about the company's financial health in a 2001 bond offering. WorldCom missed $79 million in interest payments, according to sources. FCC Chairman Michael Powell says he does not expect imminent service halts or disruptions by WorldCom.

July 17 — The company agrees to freeze some assets for 80 days in exchange for a temporary halt to legal efforts by a group of banks to recover $2.5 billion in loans.

July 18 — Sources say WorldCom plans to file for bankruptcy protection as early as July 21.

July 21 — WorldCom CEO Sidgmore says the company will file for Chapter 11 bankruptcy protection later in the day, but plans to emerge within 9 to 12 months. The company will have access to up to $2 billion in funding but does not plan to tap all of it. Additionally the company will hire a restructuring expert.